Infrastructure method and system for managing deductibles for insurance policies

• US 8,428,976 B1
• Filed: 12/23/2010
• Issued: 04/23/2013
• Est. Priority Date: 08/26/2003
• Status: Active Grant

• Current Assignee: United Services Automobile Association
• Original Assignee: United Services Automobile Association
• Inventors: Johnson, Jeromy Laverne, Chan, Michael Hongmin
• Primary Examiner(s): Donlon, Ryan D
• Application Number:
  US12/978,174
• Time in Patent Office: 852 Days
• Field of Search: 705/2, 705/4, 705/26, 705/35, 705/38, 705/44
• US Class Current: 705/4
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A method of determining a renewal deductible for an insurance policy includes providing a computer having a processor, determining that a default deductible is less than a current deductible, and determining that a new deductible indicator is negative. The method includes retrieving, using the processor and an available deductible key reference, a plurality of available deductibles from a third table and determining, using the processor, that the plurality of available deductibles does not include the current deductible. The method further includes setting the renewal deductible equal to the available deductible of the plurality of available deductibles higher than and closest to the current deductible if the next higher deductible indicator is in a positive state and setting the renewal deductible equal to the available deductible of the plurality of available deductibles less than and closest to the current deductible if the next higher deductible indicator is in a negative state.

Claims

1. A method of determining a renewal deductible for an insurance policy, the method comprising:

providing a computer having a processor;

providing a plurality of interrelated tables, each table of the plurality of interrelated tables including a plurality of policy variables;

extracting, using the processor, a first key reference from a first table, the first key reference identifying a first specific group of the policy variables;

retrieving a current deductible associated with the insurance policy;

matching, using the processor, the first key reference to a second table including a default deductible, a new deductible indicator having either a positive state or a negative state, an available deductible key reference, and a next higher deductible indicator having either a positive or a negative state;

retrieving, using the processor, the default deductible, the new deductible indicator, and the next higher deductible indicator from the second table;

determining, using the processor, that the default deductible is less than the current deductible;

determining, using the processor, that the new deductible indicator is in the negative state;

retrieving, using the processor and the available deductible key reference, a plurality of available deductibles from a third table;

determining, using the processor, that the plurality of available deductibles does not include the current deductible;

setting the renewal deductible equal to the available deductible of the plurality of available deductibles higher than and closest to the current deductible if the next higher deductible indicator is in a positive state; and

setting the renewal deductible equal to the available deductible of the plurality of available deductibles less than and closest to the current deductible if the next higher deductible indicator is in a negative state.

2. The method of claim 1 wherein the first table further includes a geographical variable.

3. The method of claim 2 wherein the first table further includes a transaction variable and an effective policy date variable.

4. The method of claim 1 wherein the second table further includes a first deductible variable and a second deductible variable.

5. The method of claim 4 further comprising providing variables distinguishing deductibles available to the policies.

6. The method of claim 1 further comprising generating an error code if no available deductible of the plurality of available deductibles is higher than and closest to the current deductible.

7. The method of claim 1 further comprising generating an error code if no available deductible of the plurality of available deductibles is less than and closest to the current deductible.

8. A non-transitory computer-readable medium comprising a plurality of instructions, which, when executed by a processor, cause the processor to determine a renewal deductible for an insurance policy, the plurality of instructions comprising:

instructions that cause the data processor to extract a first key reference from a first table of a plurality of interrelated tables, the first key reference identifying a first specific group of policy variables;

instructions that cause the data processor to retrieve a current deductible associated with the insurance policy;

instructions that cause the data processor to match the first key reference to a second table including a default deductible, a new deductible indicator having either a positive state or a negative state, an available deductible key reference, and a next higher deductible indicator having either a positive or a negative state;

instructions that cause the data processor to retrieve the default deductible, the new deductible indicator, and the next higher deductible indicator from the second table;

instructions that cause the data processor to determine that the default deductible is less than the current deductible;

instructions that cause the data processor to determine that the new deductible indicator is in the negative state;

instructions that cause the data processor to retrieve, using the available deductible key reference, a plurality of available deductibles from a third table;

instructions that cause the data processor to determine that the plurality of available deductibles does not include the current deductible;

instructions that cause the data processor to set the renewal deductible equal to the available deductible of the plurality of available deductibles higher than and closest to the current deductible if the next higher deductible indicator is in a positive state; and

instructions that cause the data processor to set the renewal deductible equal to the available deductible of the plurality of available deductibles less than and closest to the current deductible if the next higher deductible indicator is in a negative state.

9. The non-transitory computer-readable medium of claim 8 wherein the first table further includes a geographical variable.

10. The non-transitory computer-readable medium of claim 9 wherein the first table further includes a transaction variable and an effective policy date variable.

11. The non-transitory computer-readable medium of claim 8 wherein the second table further includes a first deductible variable and a second deductible variable.

12. The non-transitory computer-readable medium of claim 11 further comprising instructions that cause the data processor to provide variables distinguishing deductibles available to the policies.

13. The non-transitory computer-readable medium of claim 8 further comprising instructions that cause the data processor to generate an error code if no available deductible of the plurality of available deductibles is higher than and closest to the current deductible.

14. The non-transitory computer-readable medium of claim 8 further comprising instructions that cause the data processor to generate an error code if no available deductible of the plurality of available deductibles is less than and closest to the current deductible.

15. An information handling system for determining a renewal deductible for an insurance policy, the information handling system comprising:

a storage device storing a program;

a processor coupled to the storage device and operative with the program for processing data in a plurality of interrelated tables, wherein the processor is operable to execute instructions of the program, the instructions comprising;

extracting, using the processor, a first key reference from a first table;

retrieving a current deductible associated with the insurance policy;

matching, using the processor, the first key reference to a second table including a default deductible, a new deductible indicator having either a positive state or a negative state, an available deductible key reference, and a next higher deductible indicator having either a positive or a negative state;

retrieving, using the processor, the default deductible, the new deductible indicator, and the next higher deductible indicator from the second table;

determining, using the processor, that the default deductible is less than the current deductible;

determining, using the processor, that the new deductible indicator is in the negative state;

retrieving, using the processor and the available deductible key reference, a plurality of available deductibles from a third table;

determining, using the processor, that the plurality of available deductibles does not include the current deductible;

setting the renewal deductible equal to the available deductible of the plurality of available deductibles higher than and closest to the current deductible if the next higher deductible indicator is in a positive state; and

setting the renewal deductible equal to the available deductible of the plurality of available deductibles less than and closest to the current deductible if the next higher deductible indicator is in a negative state.

16. The information handling system of claim 15 wherein the first table further includes a geographical variable.

17. The information handling system of claim 16 wherein the first table further includes a transaction variable and an effective policy date variable.

18. The information handling system of claim 15 wherein the second table further includes a first deductible variable and a second deductible variable.

19. The information handling system of claim 15 further comprising generating an error code if no available deductible of the plurality of available deductibles is higher than and closest to the current deductible.

20. The information handling system of claim 15 further comprising generating an error code if no available deductible of the plurality of available deductibles is less than and closest to the current deductible.